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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Additional Property

Synonyms:	collateral, real estate
Filed Under:	mortgages, real-estate
Tags:	mortgage, realty

Definition of additional property

additional property: 1. Address of real estate that a person owns that is not being financed.

Related Terms and Acronyms:

junior mortgage A loan that is subsequent to the claims of the holder of a prior (senior) mortgage.
loan application A document in which a prospective borrower details his or her financial situation to qualify for a loan.
second home An additionally purchased property, often a vacation or a rental property.
second mortgage A mortgage which ranks after a first mortgage in priority on a registered land title.
subordinate loan A mortgage whose priority is below that of another mortgage; i.e., a second or third mortgage or a home-equity loan.
tandem loan When one asset, usually a house, has two loans taken out on it.

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